European gas prices rose sharply Wednesday to their highest level since early 2023, topping 80 euros per megawatt-hour (MWh), amid renewed conflict between the United States and Iran and seasonally low reserves in Europe.
At 1440 GMT, the Dutch TTF contract — the benchmark for European gas — rose 4.4 percent to 79.21 euros per MWh, having earlier hit 80.99 euros, spiking just as Europe needs to replenish its stocks ahead of winter.
